Scotsman Guide - January 2012 Residential Edition

By Joy Gendusa Founder and CEO PostcardMania

Take a Staged Approach to Refinance Marketing
Generate leads and close loans by mixing direct-mail and e-mail campaigns

The Federal reserve has prom- ised to keep interest rates low through summer 2013. The effects of this announcement will be felt throughout the economy, but nowhere more so than in the mortgage industry.

as mortgage brokers work to convince homeowners that now is the time to refinance, there are a few proven marketing techniques they can use to ensure their voices are heard. By using a combination of these three stages of marketing, originators can maintain a steady flow of refinance leads.

Stage 1: Direct-mail postcards It’s the “direct” part of direct mail that makes it effective. Going straight to prospects with your message is vital because many people do not understand the mortgage industry — and misunderstanding translates to tentativeness.

With postcards, you can bring
your message straight to prospects.
according to the 2010 Direct Marketing
association Statistical Fact Book, 79
percent of households read or skim
direct-mail advertising. and with post-
cards, the effect is doubled because
there is nothing (e.g., an envelope) be-
tween prospects and your message.

Stage 2: Direct-mail letters

a direct-mail letter is an excellent way to reach prospects who may be on the fence or who are not even considering refinancing. Letters work in these cases because originators can go into more detail. This helps dispel the confusion and mistrust prospects feel when confronted with advertising.

To maximize the effectiveness of di-
rect mail, use a combination of post-
cards and letters. The people who
respond to postcards can be removed
from the list, and those who do not re-
spond get a follow-up letter explaining
why this is a great time to refinance.

Stage 3: E-mail follow-ups

In this crucial stage, originators can turn leads into loan closures.

Once prospects call in, you know they’re interested. a refinance is a big decision, however, and some customers may not be ready to make it right away. E-mail follow-up is vital. E-mail gives you the ability to keep in contact with hundreds, even thousands, of leads.

Originators can greatly improve clo-
sure rates by using an auto-responder to
send automatic e-mails to leads over a
specific period of time. For instance, say
you talk to someone on the phone, but
they decide not to proceed with the refi-
nance right now. add them to your e-mail
campaign, and they will receive a set of
e-mails explaining why they should not
miss this opportunity to refinance. This
will likely produce a second call.

Joy Gendusa is the founder and CEO of direct-mail marketing firm PostcardMania. The company, started in 1998, offers full-service postcard marketing, website design and development, e-mail marketing, and results evaluations. In 2010, PostcardMania reached more than $19 million in annual revenue. The company now employs more than 190 people and has more than 45,000 customers in more than 350 industries. reach Gendusa at joy.Gendusa@postcardmania.com or (800) 628-1804.

By Drew Waterhouse Managing director Hammerhouse LLC

Rise to the Top of the Hiring Pool
Make sure you are the total package mortgage companies want

Like in many industries, an outgo- ing personality, computer skills, empathy and being a good listener are prized characteristics in mortgage professionals. The mortgage industry, like much of american business, has had to endure a reality check that makes being a good producer simply not good enough. If you’re considering moving to a new company this year, you must be the total package to be considered by the best employers.

But what is the total package? What are leading mortgage companies looking for in originators? Here are four attributes top companies look for in potential employees:

1. referral-based business: Candidates
must have a reliable and relation-
ship-based source of business that
is not dependent on employer-pro-
vided leads. Candidates with es-
tablished referral sources provid-
ing a consistent volume of loans for
two years or longer will be in par-
ticular demand because lenders are
seeking what amounts to a merger
of their successful business models
with the successful and proven book
of business of mortgage originators.
Lenders may not be willing to hire
originators who are still building a
business. It is too expensive, given
the extra processing and compliance
requirements, and the margins are
too thin to work with anyone who
doesn’t bring a consistent stream of
business to the relationship.

Drew Waterhouse is managing director at Hammerhouse LLC, a national recruiting and strategic-growth company for the financial-services industry with mortgage sales and leadership placement at its core. Waterhouse has 15 years of experience in mortgage headhunting and supporting strategic growth initiatives. He has led teams at a publically traded mortgage bank and a national depository with a focus on building production, leadership teams and value platforms. reach him at drew.waterhouse@ teamhammerhouse.com. For information on Hammerhouse, visit teamhammerhouse.com.